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Financial News: Vietnam Manufacturing Sector Remain Mired In Contraction -

Vietnam Manufacturing Sector Remain Mired In Contraction - Markit

09/30/2021 - 21:20:00 (RTTNews)

(RTTNews) - The manufacturing sector in Vietnam continued to contract in September at a steady pace, the latest survey from Markit Economics showed on Friday with a manufacturing PMI score of 40.2.

That's unchanged from the August reading and it remains beneath the boom-or-bust line of 50 that separates expansion from contraction.

Temporary business closures, transportation difficulties and staff shortages all contributed to a fourth successive reduction in manufacturing output in Vietnam, and one that remained considerable.

New orders also fell sharply, and to the greatest extent since April 2020. Alongside a sharp reduction in domestic new business, firms pointed to a much sharper reduction in new export orders than that seen during August.

Employment levels decreased at the sharpest pace since the survey began in March 2011.

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